SAC Capital Redemptions $2 to $3 Billion: Exclusive

CNBC – The hedge fund SAC Capital received between $2 billion and $3 billion in requests last week from investors for the return of capital, say people familiar with the matter, with the total being closer to $3 billion amid an intensifying Justice Department investigation.

SAC’s mass exodus, which came as part of a standard quarterly window for capital return notices, known as redemptions, was essentially in line with expectations. Heading in to the June 3 deadline, people close to SAC said they were expecting a “significant” pullback of the roughly $4 billion in outside assets that had not yet been yanked.